Too many hurdles to disability savings plan, Senate committee says—Jordan Press—Ottawa Citizen
OTTAWA — The Senate’s banking committee says the federal government has to do more to remove hurdles for Canadians to start aRegistered Disability Savings Plan (RDSP), and do a better job of advertising the under-utilized program. Issues with the six-year-old...
Senate Releases List of Improvement Recommendations on the RDSP
The Standing Senate Committee on Banking, Trade and Commerce held a series of community meetings from December 2013 through February 2014 to study the ability of individuals to establish an RDSP with particular emphasis on legal representation, and the ability...
Protecting RDSPs and RESPs from Bankruptcy Seizure—MLA Andrew Weaver
How many of us plan for bankruptcy? Very few. Unfortunately, it happens far too often. When it occurs, individuals inevitably struggle to rebuild their lives in the hope that one day they will become financially stable once more. Registered...
The difference an RDSP can make: Shannon’s story—The Globe and Mail
Shannon, age 15, loves playing baseball, skiing, and swimming with dolphins. She also has a severe disability called Engelmann’s Syndrome. For her parents, Kathy and Rob, their biggest worry is what will happen to Shannon when they are no...
RDSPs and FATCA: Warning to People With Disabilities With Any Connection to the U.S.
On March 18, 2010, the United States (US) announced a world-wide provision known as the Foreign Account Tax Compliance Act (FATCA) which demands that every non-US financial institution on earth—such as all Canadian banks and credit unions—must enter into an agreement with...
How RDSPs work—The Globe and Mail
The Registered Disability Savings Plan (RDSP) was established to help parents and others save for the long-term financial security of a disabled person (one who qualifies for the Disability Tax Credit). The beneficiary of an RDSP can continue to receive...
Government Form: Revocation of Request for Canada Disability Savings Grants and/or Canada Disability Savings Bonds
Why would anyone ever want to open an RDSP and not accept any free bonds or matching grants? One reason is because any grant or bond received means the RDSP cannot see any withdrawals made for the following ten...
PERSONAL FINANCE: It’s time to take advantage of the disability savings plan—Julie Shea—thespec.com
I love free money, especially when it is the government’s money. That is why I was surprised to discover that I was unaware of a program that could possibly provide up to $90,000 in free money to eligible candidates....
RDSP Improvements from Budget 2012 Come Into Effect
Budget 2012 proposed a number of improvements to the RDSP, most of which have not come into effect until two days ago, on January 1, 2014. The changes are: Investment income earned in an RESP is now allowed to...